Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
You've done a great job. As you point out, the key is application of your IQ points to the problem, rather than just floating though life with a "whatever" mindset.
Thank you. I consider that, and my ability to be flexible and open to new ideas, as my greatest asset. One has to look for their opportunities, give them their due diligence, and then strike when the time is right. Or as close to right as you can get. LOL.
A friend once told me "Not everyone can do what you do". I think they can, they just won't even consider all the alternatives, even when someone points them out. People are just stuck in the "whatever" mode, or they just want to do what they've always done. If you do what you've always done, you'll have no one else to blame when you end up right where you already were.
The only thing I found "goofy" was the statement that finding a good job in this economy is extremely challenging.
There are tons of good jobs out there. The ability of any individual to "get" the job is, of course, directly related to the individual's education and/or skills and experience, plus their attitude and demeanor through the selection process, and their fit with the particular company's mission and work culture. For some challenging, for others not so much. Jobs are out there, and I don't mean McJobs. Dream jobs? Maybe not, but nevertheless, they are "good jobs".
I was on bigger pockets and there was a guy who did what you did. Maybe it was you. He kept every property he bought as a rental each time he got transferred in the military.
How do you manage them spread out?
Not sure what bigger pockets are.
ANyway, I had a person doing property management on the first house. I managed the others that were local. Then I sold them and did a tax free exchange to buy rentals where I was moving. I ended up getting transferred back to an area where I lived & owned property.
Later, I got a property manager. That allowed me to be hands off.
Quote:
Originally Posted by mordant
true financial independence is a net worth of at least $5M such that you could live a reasonable and fairly carefree middle-class lifestyle just off some low-risk earnings from that wealth, like the interest on savings.
I disagree with this. As long as your income streams are large enough and continue to generate, technically you could have zero money on hand but still have enough money every month to cover your expenses.
Quote:
Originally Posted by mordant
And I'd calculate that 75% of that was dumb luck, 20% persistence / "perspiration" and 5% skill (although that 5% is very honed).
WonderfulAlex, I must disagree with the bold. It isn't challenging at all - but it is incumbent upon each of us to enhance our own skills and human capital.
Early in my career, I adopted a mindset that I am the CEO of the "Moguldreamer" company even though I received a paycheck from a big company. Yes, my employer gave me a paycheck every 2 weeks, but I considered that company to be my "customer" and I considered myself a vendor of my skills & human capital. As long as I had something to sell (my skills & labor) that my customer (legally my employer) wanted to buy, we'd continue to do business. Every now and then, my customer might decide it didn't want to purchase my products (skill, labor) - and that was fine - because I always kept my skills & IP up to date. And every now and then, I decided my "customer" was a pain in the rear so I dumped them and found another.
Keep up to day and continuously improve your human capital and you will always be in demand.
I appreciate the perspective. Respectfully, I do think it is extremely challenging right now. This is based on what I have been seeing on forums, Linkedin, friends, and family members.
It's obviously going to be different for someone with highly in demand skills like software engineers or AI specialists. But that's not me or the majority of college educated people.
Part of the reason it's so difficult is because the Fed has yet to cut interest rates. Once the Fed cuts the interest rates I think we will see more job opportunities open up.
Last edited by WonderfulAlex; 05-06-2024 at 02:19 AM..
The only thing I found "goofy" was the statement that finding a good job in this economy is extremely challenging.
There are tons of good jobs out there. The ability of any individual to "get" the job is, of course, directly related to the individual's education and/or skills and experience, plus their attitude and demeanor through the selection process, and their fit with the particular company's mission and work culture. For some challenging, for others not so much. Jobs are out there, and I don't mean McJobs. Dream jobs? Maybe not, but nevertheless, they are "good jobs".
I know people that have been searching for 6 months to a year and still can't find a job. People are being forced to settle for lower level positions and less pay. That's the reality.
Strange posting history too...looking to move to like 8 different cities...same verbage...fishy.
You guys are really bad at detecting AI. LOL
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
